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| EMI suitors 'circling over bid' | EMI suitors 'circling over bid' |
| (10 minutes later) | |
| UK music group EMI has confirmed that it has been courted by a number of suitors looking to buy the company. | UK music group EMI has confirmed that it has been courted by a number of suitors looking to buy the company. |
| EMI, which looks after Gorillaz, Robbie Williams and Lily Allen, said the talks were "preliminary" and there was no certainty that a bid would be made. | EMI, which looks after Gorillaz, Robbie Williams and Lily Allen, said the talks were "preliminary" and there was no certainty that a bid would be made. |
| A number of companies have been linked to the music group and the Financial Times said US investor One Equity was among those to have contacted EMI. | A number of companies have been linked to the music group and the Financial Times said US investor One Equity was among those to have contacted EMI. |
| EMI has issued two profit warnings this year and is restructuring its business. | EMI has issued two profit warnings this year and is restructuring its business. |
| 'No certainty' | 'No certainty' |
| The firm has been at the centre of takeover talk since it rejected a £2.1bn offer from rival Warner Music in March as too low. | The firm has been at the centre of takeover talk since it rejected a £2.1bn offer from rival Warner Music in March as too low. |
| EMI was also concerned that the Warner bid would create operational and regulatory risks. | EMI was also concerned that the Warner bid would create operational and regulatory risks. |
| Artists like Lily Allen have not been able to halt EMI's sales slide | Artists like Lily Allen have not been able to halt EMI's sales slide |
| Analysts said that the company was still an attractive takeover target. | Analysts said that the company was still an attractive takeover target. |
| "Further to recent speculation, EMI group confirms that it has received a number of preliminary indications of interest to acquire the company," EMI said in a statement. | "Further to recent speculation, EMI group confirms that it has received a number of preliminary indications of interest to acquire the company," EMI said in a statement. |
| "There can be no certainty that any offer will ultimately be made," it added. | "There can be no certainty that any offer will ultimately be made," it added. |
| According to the FT, One Equity has sent a letter of intent to the board of EMI, and said it would be interested in buying the firm. | According to the FT, One Equity has sent a letter of intent to the board of EMI, and said it would be interested in buying the firm. |
| The newspaper said a takeover by One Equity, should it be made, could be worth as much as $6bn (£3bn). |